Tag Archives: eur
Eurozone Retail Sales Make Slight Gain
Retail sales for the eurozone region rose slightly in July, gaining 0.1 percent after a 0.2 percent gain in June. Several of the smaller member nations recorded more significant gains including a 3.0 percent increase in Portugal and a 2.9 percent increase in Malta. Continue reading
Oil Dips Below $75 a Barrel
Oil prices were off slightly as investors digested the latest US Employment Report, falling by 35 cents at $74.67 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, oil gained $1.11 to $75.02 a barrel Continue reading
ECB Raises Growth Forecast
The European Central Bank lifted its growth prediction for the eurozone region to between 1.4 and 1.8 percent for this year, and for between 0.5 and 2.3 percent for next year. ECB President Jean-Claude Trichet said the eurozone recovery has been supported by global growth and reflected “temporary domestic factors”. Continue reading
Growth By Contraction!
In what seemingly is a contradiction, Europe is proving that you can grow by shrinking. If you don’t believe that’s possible, look no further than the EU GDP figures reported this morning. GDP figures came in showing growth of 1.9% vs. an expectation of 1.7%. But wait a second, isn’t the EU enacting austerity measures Continue reading
FED and BOJ Losing Investors Focus
Investors continue to test the Fed’s resolve. Is helicopter Ben overly optimistic on his economic outlook? And if so, what is he going to do about it? Continue reading
Surprise Rise in German Business Confidence
An increase in the Ifo Business Climate Index which measures the confidence level of German businesses, caught market watchers by surprise, rising to 106.9, up from 106.2 in July. Most analysts predicted a decrease in the index. The news of German confidence has strengthened the European currency. Continue reading
Noda Yen for me thank you
Its fear that is driving capital markets, the kind of thing that may reinforce the idea of a double-dip recession, not fundamentals or technical’s. An Irish downgrade three-months ago would have sunk the EUR, instead the German Ifo survey rising to a three-year high this morning, is tentatively convincing the market that ‘their’ economy will not lose as much momentum as believed Continue reading
Yen Continues to Track Higher
Japanese Prime Minister Yoshihiko Noda commented on the yen reaching a 15-year high against the dollar saying that the government was watching the situation “extremely closely, with grave concern”. As an exporting nation, a stronger yen makes Japan’s products more costly to US consumers which make up a large percentage of Japan’s buers. Continue reading